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Firms Above $0.62 Handle

NZD

NZD/USD prints at $0.6215/20 the pair is up ~0.2% this morning.

  • Kiwi firmed above the $0.62 handle this morning alongside firmer US Equity futures and US Tsys lifting off session lows. There was no overt headline driver for the move.
  • The uptrend in NZD/USD is firmly intact, bulls target a break of the high from 14 Dec ($0.6249) which opens the $0.63 handle. Support comes in at $0.6127 (20-Day EMA).
  • ASB noted this morning that it is more likely that the RBNZ will cut rates in H2 2024 (BBG).
  • A thin docket in Asia leaves wider swings in risk sentiment as the main driver in NZD.

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